Despite Albanese’s campaign hiccups, at the end of this penultimate week, based on the objective evidence, the election appears to be his to lose.
A tighter labour market than in the past is now needed to drive real wages growth.
If we want higher wages, we must win them through deliberate wage-boosting policies.
There is enough momentum for Australia’s unemployment rate to go lower than 4.2% in 2022. Keeping it low is another matter.
The Conversation’s best graphs have removed doubt, surprised, and told entire stories.
Even now much of the recovery in employment seems to be happening without big wage increases.
True wages growth, and true price growth, is probably less than the official figures suggest – meaning there’s no need for alarm about inflation in Australia.
The unemployment decline isn’t as impressive as it first appears, and wages growth remains sluggish.
Only five of the 56 economists surveyed believed lower immigration would boost wage growth. The rest backed measures to lift productivity and investment and changes that boosted the power of unions.
To drive living standards upward we need new technologies to relentlessly improve productivity.
Inflation and wage rises used to shrink the repayment burden. We’re being granted mortgages as if they still will.
A hike in the minimum wage could jeopardise Australia’s post-COVID recovery, says the Morrison government. That’s an outdated economic idea.
Without extra measures, aiming for wage growth in the aggregate will leave many Australians behind.
The Australian government’s spending is Keynesian, but its approach to wage growth is not.
In these troubled economic times, skills and technology are key to lifting the UK out of the productivity doldrums.
An examination of 80,000 enterprise bargaining agreements finds that on average 80% of each increase in compulsory super has been at the expense of wages.
The Conversation’s 2020 economic survey points to a dismal year, with no progress on many of the key measures that matter for Australians and an increase in the unemployment rate.
Politics with Michelle Grattan: Mathias Cormann and Jim Chalmers on the mid-year budget update.
The Conversation, CC BY29,7 MB (download)
The figures indicate a worsening economy, but the government has sought to put a positive spin on the situation, saying the Australian economy is showing resilience.
The projected surplus has been revised down from A$7.1 billion at budget time to $5 billion for this financial year.
In his second “vision statement” Albanese says he wants to pursue his “productivity project”, and paints himself as a fiscal conservative well removed from Bill Shorten’s tax and spend approach.